UAL Corp., parent of United Airlines, received from the US Bankruptcy Court in Chicago the expected approval of its reorganization plan on Friday, positioning the company to emerge from more than three years of Chapter 11 protection early next month.
UAL did not provide a specific exit date. Creditor distributions will commence shortly afterward, it said. The airline sought bankruptcy protection on Dec. 9, 2002, after it was turned down for a federally guaranteed loan by the Air ...